Citigroup receives subpoena from Massachusetts Attorney General Martha Coakley
Citigroup Inc. has received a subpoena for information from Massachusetts Attorney General Martha Coakley, the New York banking giant disclosed Friday in a quarterly filing with securities regulators.
Coakley served a civil investigative demand on a Citigroup affiliate on Aug. 1, according to the filing with the Securities and Exchange Commission. The subpoena followed one in June that was filed by New York’s attorney general, “seeking documents and information concerning MAT Finance Fund LLC, ASTA Finance Fund LLC, and Falcon Strategies LLC.” The bank said Coakley’s office was seeking similar documents and information on the funds, which were sold to wealthy customers as alternative fixed-income investments.
A spokesman for Coakley declined to comment on what her investigators are looking for in the inquiry.
Citigroup said in its filing that it “is cooperating fully with these inquiries.” The company did not return a call seeking additional comment.
Citigroup also disclosed that it has received requests for documents from the attorneys general in New York and Connecticut related specifically to Libor inquiries. Coakley’s office has recently been delving into the Libor interest-rate rigging scandal.
Last month Coakley told the Globe in a statement, “We are currently investigating the serious allegations around the manipulation of the LIBOR and working diligently to determine what, if any, impact it may have on Massachusetts investments. We are also working with other state agencies to determine whether they have suffered any losses as a result.”
Bloomberg Business News first reported on the Citigroup filing last week.Beth Healy can be reached at email@example.com.